License Renewal / Cancellation
The License Renewal fee (where applicable) applies only to Historical Tick Data and not to Updates or Real Time Data.
The License Renewal fee (where applicable) is set at 5% of the initial Historical Data License Fee (before volume discount but after academic discount).
License Renewal is optional at the discretion of Licensee at the time when a renewal invoice is presented by Olsen Data. (The renewal invoice may be presented immediately after the first anniversary of the original purchase of the Licence or later at the discretion of Olsen Data).
If Licensee chooses not to renew - the following written statement will be required with the inital definitions included:
Child Series: A series constructed from a parent series by selecting a subset of fields from a parent series. (Open, High, Low and Close data at 5 minute intervals generated from a parent series of tick by tick data or from a parent series of Open, High, Low and Close data at 1 minute interval is an examples of a child series.)
Derived Data: Data derived from a parent series or a child series of a parent series which cannot be reverse engineered by algorithm or formula to regenerate the parent series or any child series of the parent series. (Moving averages using absolute values or squares of price changes and low resolution images of price - time graphs are valid examples of derived data).
I/We <individual/company name> no longer require use of the data supplied under Invoice# <or part thereof - give description> and would like to hereby cancel subscription to this data. I/we hereby assert that I/we have diligently deleted or destroyed all forms of access to the supplied data or any child series constructed from the data. I/We hereby assert that in the event that any remaining such access is discovered in the future we will immediately delete or destroy such access. I/We understand that we can continue to use any derived data (as defined above) after this cancellation.
Olsen Data will never increase the License Renewal fee as established at the time of the original licensing (and explicitly stated in the invoice associated with the original licensing).